A new company, SGM (UK) Ltd. has acquired the assets of the SGM Group, the groundcare equipment business which went into administration in December 2006.
Under the deal, customers of the SGM Group of companies, Scottish Grass Machinery, SGM Hire and Select Contract Maintenance, are assured of continuity of service and the jobs of the current workforce have been secured.
The shareholders in SGM (UK) Ltd include Steven McInroy, managing director, David McInroy, executive chairman, Richard Lawson, finance director and Ian Morrison, operations director. A non-executive director, John Clarke, a senior partner in CCW LLP, has also agreed to join the board.
The new company will trade under the Scottish Grass Machinery brand for its sales and distribution business in Scotland and SGM Hire for its contract hire business across the UK. Head Office for the new company will continue to be at Inverkeithing in Fife and the network of 12 service centres across the UK will continue to operate.
Steven McInroy, managing director, SGM (UK) Ltd said, “We are very pleased that our bid to acquire the assets of SGM Group has emerged as the best offer, particularly in the interests of employees and customers, both of whom are now guaranteed continuity. The past few months have been a difficult period for everyone associated with SGM Group. Important lessons have been learned and we now want to move forward and focus on the future which we believe is exceptionally bright for SGM (UK) Ltd.”
SGM (UK) Ltd www.scottishgrass.co.uk